I don’t know if you have noticed that the market trend has been a little different recently.
When Bitcoin (Bitcoin) goes up, altcoins don’t follow much. Conversely, when Bitcoin falls, altcoins don’t move either.
This is actually the stage of market bleeding. Bitcoin is consolidating at a high level, and liquidity is slowly flowing to the second largest and some altcoins. Bitcoin is already at a high level, and it is a good choice to add positions when it pulls back. After all, its big support is still there. The cost of MicroStrategy is around 88k, and they added another 1.5 billion dollars around 95k the day before yesterday.
Back to today's BTC market analysis: From the K-line, the 1-hour and 4-hour charts are both on the rise, and the 12-hour chart shows signs of stopping the decline and rising. Although the daily chart is sideways and weak, it still maintains an upward structure overall. Today's pressure level is 98,500, and the support level is 94,300 US dollars.
Now most of the market's attention is focused on altcoins
My personal opinion is, don’t forget to like, follow and collect! Recently, there is an obvious signal: the ETF inflow of the second largest (Ethereum) last Friday has exceeded the inflow of Bitcoin. Bitcoin is getting more and more expensive, and basically only institutions can afford it, so the target has turned to the second largest ETH.
The second largest one is strong, and the altcoins are even stronger. It is possible that altcoins will also launch ETFs next year. Currently, the most likely one is Solana (SOL).
In addition, position control is very important. Whether it is spot or other transactions, you must remain calm and don't act recklessly. The market is getting better and better, and we need to increase our profits through steady operations.
Finally, I suggest that you pay attention to the latest data in the circle every day, especially the ETF dynamics of Dabing and Lao Er, especially the recent capital flow of Lao Er deserves special attention.
In the altcoin market, 2017-old coins are leading the gains
Recently, some old-fashioned altcoins have begun to perform, such as XRP, ADA, HBAR, CRV, and IOTA.
Now, the focus of funds and the market is mainly on the two coins, BNB and TRX, which both hit all-time highs today.
TRX’s highest price reached $0.45, while BNB reached $774.
The rise of BNB is mainly due to the news that Binance founder CZ may sell part of his shares to some institutions. The market speculates that it may be BlackRock in the United States.
I think it is very likely that CZ will sell his shares to BlackRock.
After all, CZ currently holds too much shares, still more than 90%. Binance needs this long-term interest binding to maintain stable development.
Judging from the current trend, XRP, ONDO, TRX and BNB are rising in turn, which shows that big funds are speculating on compliant projects.
The biggest highlight of ONDO is its compliance.
It has established a complete compliance system to issue tokenized U.S. Treasury bonds OUSG. In theory, the same framework can also be used to tokenize U.S. stocks, and there is great potential in the future.
This is also the reason why we chose to plan it in advance, and the current return has exceeded 3 times.
It can be seen that large institutions will give priority to investing in projects that can gain broad consensus.
The rise and fall of these projects are not driven by retail investors, but by big funds who want to make big money in the bull market.
However, you still have to be careful with the TRX project, especially Sun Ge. Don't be too greedy, and run away as soon as you make money.
I read an interview with Sun Ge before, and his friend commented on him like this: "When eating coconut chicken hotpot with you, he would scoop all the coconut chicken into his own bowl."
Therefore, Sun Ge may crash the market himself, and this is the biggest risk of TRX.
Judging from the current general trend, the altcoin season has begun to explode, and Bitcoin's market capitalization has dropped from a peak of 60.8% to 55%.
The trend has begun to reverse, and once this trend is formed, it will be difficult to reverse in the short term.
According to the cyclical laws of previous bull markets, if the copycat season breaks out in December 2024, then this bull market will most likely peak around October 2025.
At that time, we will have to clear out our altcoins and prepare to escape the top in batches.
Now let’s talk about how to find “high-quality altcoins”?
In fact, we can first look at the holdings of the Grayscale Fund, and often find some altcoins worthy of attention.
In addition to BTC, ETH is undoubtedly the currency with the largest holdings in Grayscale Fund. We can also use ETH's ETF to see the buying and selling of various ETFs and understand the operations of institutions.
In addition, Grayscale also holds positions in old mainstream coins that have performed well recently, such as ETC, LTC, BCH, XLM, etc. There are also positions in altcoins that have seen strong gains recently, such as LINK and MANA.
By paying attention to data such as premium and position changes, we can capture the operation trends of large investors or institutions and judge their views on certain altcoins.
After all, the currencies that can enter the Grayscale Fund generally have good fundamentals compared to some other altcoins.
Finally, with the addition of technical analysis, select the most promising altcoins as the targets of your mid- to long-term investment.
This is my idea~
Finally, I would like to share with you three don’ts and one must: Don’t change positions frequently in a bull market, don’t cut losses frequently, don’t do contract trading, and learn to take profits.
